A Brazilian court has handed down a historic sentence against the operators of Braiscompany, one of the largest cryptocurrency Ponzi schemes ever recorded in the country. Joel Ferreira de Souza, identified as the main operator, was sentenced to 128 years, 5 months, and 28 days in prison for running the scheme that collected over $100 million from nearly 20,000 investors.
Over 170 Years of Combined Sentences
According to court documents obtained by local media, three individuals were found guilty and sentenced to a combined total of more than 170 years. De Souza was convicted on 11 counts of money laundering after operating multiple fictitious companies and managing crypto portfolios for third parties with promised high yields. Gesana Rayane Silva, a broker for the company who also transported cash and brokered financial transactions, received a sentence of 27 years, 10 months, and 10 days. Victor Augusto Veronez de Souza, identified as Joel's son and part of a company that facilitated illicit financial transactions for Braiscompany, was sentenced to 15 years. Two other individuals were acquitted due to lack of evidence linking them to the money laundering crimes.
Mastermind Already Arrested and Extradited
Last year, the mastermind and owner of Braiscompany, Antonio Inacio Da Silva Neto, and his partner Fabricia Farias Campos were arrested in Argentina and extradited to Brazil. The couple had previously been sentenced to over 150 years in prison—88 years and 7 months for Da Silva Neto and 61 years and 11 months for Farias Campos. The latest sentencing concludes the legal actions against the operational layer of Braiscompany.
Scale and Impact
Braiscompany moved more than $400 million from investors across Brazil, making it one of the country's largest crypto-related frauds. The case underscores Brazil’s tough stance on cryptocurrency financial crimes and serves as a warning to investors about schemes promising guaranteed high returns with no risk.